The Globe and Mail reports in its Thursday edition that Dollarama posted a 27-per-cent increase in quarterly profit and has raised its sales growth forecast for this year. The Globe's Susan Krashinsky Robertson writes that on Wednesday Dollarama reported net earnings of $245.8-million or 86 cents a share in its second quarter ended July 30. That compared with $193.5-million or 67 cents in the same period last year, as sales continue to blow past expectations. On a diluted per-share basis, earnings growth was 30.3 per cent. Dollarama reported that sales have been increasing across its product categories, and demand for "consumables" such as food and household cleaning products has been higher than historical levels.
Dollarama now expects growth in comparable store sales to be in the 10- to 11-per-cent range this year, a change from earlier guidance that predicted growth in the 5- to 6-per-cent range. The number of transactions at its stores grew by 12.9 per cent in the second quarter. People are also buying slightly more when they visit, with the average size of transactions at its checkouts growing by 2.3 per cent. The discount retailer reported a 15.5-per-cent jump in comparable sales in the second quarter.
© 2024 Canjex Publishing Ltd. All rights reserved.